Matthew Westwood has been chosen to lead Cora Homes after joining in 2022 as director of special projects.
Latest accounts for Cora Homes, previously called Barwood Homes until 2022, show a pre-tax loss of £1.4m in 2023 on sales of £28.9m.
In August 2024 the directors committed to transition the company to a business model based on partnerships and joint ventures, with less intensive capital requirements. This decision was taken in light of a number of planning setbacks and delays to starts on site. The new strategy is supported by its principal creditors: Signal Capital, Close Brothers and Homes England.
Matthew Westwood said: “I’m confident in the future of Cora. We have a motivated and driven team who have tackled the adversity thrown at us this year with humility and great resilience. One of the highlights of the year has been getting to know our customers and hearing their positive feedback.
“We’ve placed a strong emphasis on ensuring our customer experience is top-notch, alongside the high quality and sustainability of the homes we build.
“2025 will be an outward-focused year, as we look to secure high-quality land and strengthen relationships with development partners to continue creating amazing places.”
He concluded: “We are under no illusions that 2025 will be another tough year and without meaningful and correctly targeted change to the planning system, in particular planning committees, the difficulty of delivering much needed housing will remain.”
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